Continental AG (OTCMKTS:CTTAY) Short Interest Up 97.0% in August

Continental AG (OTCMKTS:CTTAY) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 86,037 shares, a growth of 97.0% from the July 30th total of 43,678 shares. Based on an average daily trading volume, of 56,252 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.0% of the shares of the company are sold short.

Continental Stock Performance

Shares of OTCMKTS CTTAY opened at $8.03 on Monday. The firm has a market capitalization of $16.06 billion, a price-to-earnings ratio of -26.77, a PEG ratio of 1.10 and a beta of 1.39. Continental has a one year low of $6.21 and a one year high of $9.00. The business has a fifty day simple moving average of $8.13 and a 200 day simple moving average of $7.95. The company has a current ratio of 1.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89.

Continental (OTCMKTS:CTTAY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.03 billion. Continental had a negative net margin of 1.36% and a negative return on equity of 10.93%. Sell-side analysts expect that Continental will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Continental in a research report on Thursday, July 2nd. Citigroup restated a “buy” rating on shares of Continental in a research note on Friday, June 12th. Finally, Kepler Capital Markets lowered shares of Continental from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

About Continental

Continental AG, trading on the OTC market under the ticker CTTAY, is a global technology company renowned for its wide range of automotive and industrial products. The company’s core businesses include the design, development, and manufacturing of tires for passenger cars, commercial trucks, and specialty applications, as well as advanced automotive systems such as braking solutions, vehicle stability controls, sensors and electronic safety devices.

Founded in 1871 and headquartered in Hanover, Germany, Continental began as a rubber manufacturer before pioneering pneumatic tires in the late 19th century.